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New Indian Express
a day ago
- Business
- New Indian Express
Tamil Nadu attracts Rs 475 crore in fresh investments from Germany's Agile Robots, Italy's SOL Group
CHENNAI: Tamil Nadu Chief Minister MK Stalin on Wednesday virtually inaugurated two new industrial facilities — a robotics manufacturing unit by Germany's Agile Robots SE and an air separation plant by SOL India Pvt Ltd, the Indian arm of Italy's SOL Group — together accounting for investments worth Rs 475 crore. The Agile Robots facility, located at SIPCOT's Irungattukottai industrial estate, represents a Rs 300 crore investment and is expected to create over 300 high-skilled jobs. The plant will manufacture AI-powered robotic components for sectors including automotive, consumer electronics, and healthcare. 'This is a proud addition to Tamil Nadu's growing AI-driven automation ecosystem,' said State Industries Minister Dr T R B Rajaa, calling it a model for future investments that integrate technology, skilling, and employment. Six engineering students were awarded internship certificates at the launch under the state's Naan Mudhalvan skilling programme. The move marks Agile Robots' first major manufacturing entry into India. The German firm specialises in combining robotics and artificial intelligence to deliver automation solutions for global clients.
Time of India
3 days ago
- Business
- Time of India
How TN can trump tariffs
Is the glass half full or half empty? The Trump administration's tariff regime has created upheavals in world trade. Tamil Nadu, however, sees an opportunity both for its MSME sector as well as the big-ticket MNC investors. For the MSME sector — backbone of the state's export performance in competing with Thailand, Vietnam and Cambodia — it's a chance to find newer markets and products. For the MNC manufacturing investors, it's a chance to boost local sourcing thus growing the MSME vendor base. 'The ongoing tariff shifts and global realignments in trade may have opened a window of opportunity for Tamil Nadu's MSMEs in certain sectors,' says industries minister T R B Rajaa. 'While Vietnam and Thailand are often cited as alternatives, Tamil Nadu has a distinct edge. We have a highly skilled talent pool and a mature manufacturing ecosystem across multiple sectors,' he adds. There's reason for this optimism. According to the latest NIRYAT data, Tamil Nadu's overall exports hit $52 billion by FY24-25, up 19.5% from $43.5 billion in FY23-24. Of this, $18 billion is engineering goods including automotive components, $14.6 billion is electronics and $5.4 billion is ready-made garments. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like CFD: Invertir $100 con IA podría devolverte un segundo salario Digital Group Prueba ahora Undo MSMEs are the backbone of exports in India – the number of exporting units increased from 52,849 in FY20-21 to 1,73,350 in FY24-25. And TN is the third biggest exporting state after Gujarat and Maharashtra. TN-based major manufacturers have been expanding to non-North American markets. Ashok Leyland, which saw a 52% jump in export volumes in Q4, has said it is targeting GCC (Gulf cooperation council) and African markets in a big way. TVS Motor, which saw a 22% jump in FY25 exports, is shipping to markets in South and Southeast Asia, Latin America and Africa. TN's export strategy ties in with its push to attract new investments. 'We are pitching to companies around the world at a hectic pace to bring in large-scale investments and global supply chains,' says Rajaa. 'MSMEs are at the core of this growth story, and we encourage them to leverage emerging opportunities,' he adds. 'Tamil Nadu has a wide range of MSMEs and our focus is to make the quality of products export worthy,' says Atul Anand MSME secretary. 'The state's large number of clusters helps with making these companies export worthy.' The good news is that TN's MNC investors are also looking at the tariff scenario as a window to increase local footprint. 'While our shipments and exports to the US are continuing without disruption, we are looking at potential uncertainty in other regions where we operate, including Southeast Asia, home to our largest factories, and Taiwan,' says Niranjan Nayak, MD, Delta Electronics India. Thailand is Delta's largest base of operations in addition to Taiwan and China. 'Future attractiveness might be lower [in these regions] or there could be a degree of uncertainty and this gives us an opportunity to increase our manufacturing capability here in India because, based on the current tariffs, India is not in a significantly negative position,' he says. The state's MSMEs can look forward to domestic opportunities too. For, tariffs will affect the supply chains of all businesses, and big manufacturing will boost local sourcing to survive. That means new business for MSME vendors. 'The tariffs will have a direct or indirect impact on everyone. Aligned with the 'Make in India' initiative, we are advancing our localization efforts right down to the smallest components so we don't get impacted by global scenarios,' says Syed Sajjadh Ali, MD, electrical sector, India, Eaton. Lower dependence on the global supply chain means 'an upper hand in terms of cost reduction' and 'the vendor base is happy to get into new business as volumes ramp up'. 'We are seeing growing interest from international investors who are looking to diversify their sourcing beyond China,' says Rajaa. Now, that has expanded to cover Southeast Asia. For Tamil Nadu, it can only spell opportunity. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
19-05-2025
- Business
- Time of India
Samsung India reaches mutual agreement to enhance wages and benefits for workers
Samsung has announced a mutual agreement to enhance wages and benefits, in line with the demands of workers, after the final round of wage negotiations between the Samsung India management and the CITU-backed Samsung India Workers' Union (SIWU) took place on Monday. "We have constructively engaged with all our workers at the Chennai plant and are delighted to announce a mutual agreement to enhance wages and benefits for the next three years," a Samsung India spokesperson said in a statement. The talks on Monday have been part of a series of discussions held between the union and the management over several demands, including wage revision and workplace concerns. "After sustained dialogue and responsible discussions from all sides, all differences pertaining to the Samsung unit have been settled amicably," Tamil Nadu industries minister TRB Rajaa said in a post on X (formerly Twitter). "(I) am thankful to the fantastic labour force of Samsung and the Entire management of Samsung for trusting the system and engaging in healthy dialogue." The issue between the management and the workers flared up following months of unrest that followed the initial protests, which took place in September 2024, where nearly 1,000 workers affiliated with SIWU staged a 37-day strike demanding higher wages, improved working conditions, and formal recognition of their union. The protests took place at Samsung's Sriperumbudur plant near Chennai, which employs around 1,800 workers. While the strike ended in October post a partial resolution, tensions resurfaced again early this year after several union members were suspended, prompting fresh protests and sit-ins by the workers. The strike was called off on March 7 after the intervention of the state government and Samsung's assurance to respond in writing to the union's charter of demands, which included a revision of wages to Rs 36,000 per month over three years. The spokesperson went on to thank the Tamil Nadu chief minister, the minister for labour and employment, and the minister for industries for their continued support while reiterating that the South Korean consumer electronics giant remained committed "to building a positive and productive workplace in the region."
Time of India
19-05-2025
- Business
- Time of India
Samsung announces mutual agreement to enhance wages and benefits for workers
Following worker unrest over higher wages, improved working conditions, and formal recognition of their union, the CITU-backed Samsung India Workers' Union and the Samsung India management engaged in several rounds of discussions. The state government too intervened to sort out the issues. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Samsung has announced a mutual agreement to enhance wages and benefits, in line with the demands of workers, after the final round of wage negotiations between the Samsung India management and the CITU-backed Samsung India Workers' Union (SIWU) took place on Monday."We have constructively engaged with all our workers at the Chennai plant and are delighted to announce a mutual agreement to enhance wages and benefits for the next three years," a Samsung India spokesperson said in a talks on Monday have been part of a series of discussions held between the union and the management over several demands, including wage revision and workplace concerns."After sustained dialogue and responsible discussions from all sides, all differences pertaining to the Samsung unit have been settled amicably," Tamil Nadu industries minister TRB Rajaa said in a post on X (formerly Twitter). "(I) am thankful to the fantastic labour force of Samsung and the Entire management of Samsung for trusting the system and engaging in healthy dialogue."The issue between the management and the workers flared up following months of unrest that followed the initial protests, which took place in September 2024, where nearly 1,000 workers affiliated with SIWU staged a 37-day strike demanding higher wages, improved working conditions, and formal recognition of their all started with the months of unrest that followed the initial protests, which took place in September 2024, where nearly 1,000 workers affiliated with SIWU staged a 37-day strike demanding higher wages, improved working conditions, and formal recognition of their protests took place at Samsung's Sriperumbudur plant near Chennai, which employs around 1,800 the strike ended in October post a partial resolution, tensions resurfaced again early this year after several union members were suspended, prompting fresh protests and sit-ins by the strike was called off on March 7 after the intervention of the state government and Samsung's assurance to respond in writing to the union's charter of demands, which included a revision of wages to Rs 36,000 per month over three spokesperson went on to thank the Tamil Nadu chief minister, the minister for labour and employment, and the minister for industries for their continued support while reiterating that the South Korean consumer electronics giant remained committed "to building a positive and productive workplace in the region."
New Indian Express
19-05-2025
- Business
- New Indian Express
Tamil Nadu sets up investment desk in Vietnam to deepen industrial ties
CHENNAI: In a fresh bid to expand its international investment footprint, the Indian state of Tamil Nadu has established a dedicated investment facilitation desk in Vietnam, aiming to capitalise on Southeast Asia's growing industrial base and deepen bilateral economic ties. The desk, launched by Guidance Tamil Nadu, the state's investment promotion agency, forms part of a broader Global Outreach initiative to position Tamil Nadu as a globally integrated industrial hub. Similar offices have already been set up in the United States, Germany, and Japan, as the state seeks to rebrand itself to foreign investors. 'Tamil Nadu's capabilities a highly skilled workforce, robust infrastructure, and industry-friendly policies deserve global recognition,' said Dr TRB Rajaa, Tamil Nadu's Minister for Industries. 'To realise this vision, we must build a global presence through outposts like this one in Vietnam.' The newly launched Vietnam desk is expected to serve as a strategic link between Vietnamese enterprises and Tamil Nadu's manufacturing ecosystem, promoting opportunities in sectors such as electronics, electric mobility, green energy, and advanced manufacturing.
